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Condos priced at more than half a million dollars coming to Durham’s Old Five Points

Downtown Durham is getting another condo project.

Headwall Development has filed plans with the city to redevelop a quarter of an acre lot near the old Five Points area of downtown Durham into a five-story condo building, called Leyland Post, with units all priced over half a million dollars.

The condo building, at 106 and 108 Broadway streets, will have 12 units — all two bedroom and two bath — ranging in price from $545,000 to $589,000.

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A new condo building is coming to Durham’s old Five Points neighborhood. Courtesy of Headwall Development

The entire building will total 22,500 square feet, according to plans submitted to the Durham City-County Planning Department. The condos would be on the second, third and fourth floors — with the first floor reserved for a lobby and the fifth floor a rooftop terrace.

Each unit comes with its own private terrace, covered parking and climate-controlled storage units.

Headwall Development, a company that has worked extensively in downtown Durham in the past, paid $132,500 for the two small lots at 106 and 108 Broadway St.

Headwall owns several buildings around downtown, including the building adjacent to the condo project at 112 Broadway St., a building at 115 N. Duke St. and another at 1000 W. Main St., as well as several others.

The company is led by Reynolds Maxwell, who Headwall’s website describes as an active broker with Maverick Partners Realty Services in Durham and Cascade Sotheby’s International Realty in Bend, Oregon.

The Leyland Post project is yet another for-sale residential development to target downtown, following other successful projects like One City Center and The Brannan, next to Durham Central Park.

Construction has already started on 62 townhouses south of the Durham Police Department’s headquarters. Those townhouses will start in the $400,000s.

And on West Main Street, Chapel Hill-based East West Partners is close to starting construction on its own condo building. That building will be seven stories tall and have units ranging in price from $300,000 to more than $1 million.

Zachery Eanes: 919-419-6684, @zeanes
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